DocuSign (NASDAQ:DOCU) Receives “Market Outperform” Rating from JMP Securities

DocuSign (NASDAQ:DOCU)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a research report issued on Friday, Benzinga reports. They currently have a $84.00 price target on the stock. JMP Securities’ price target indicates a potential upside of 42.61% from the stock’s current price.

Several other brokerages have also recently weighed in on DOCU. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $48.00 to $62.00 in a report on Friday. TheStreet upgraded DocuSign from a “d+” rating to a “c-” rating in a report on Tuesday, December 19th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $49.00 to $64.00 in a report on Tuesday, January 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of DocuSign in a report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.25.

DocuSign Price Performance

Shares of DocuSign stock opened at $58.90 on Friday. The stock has a market cap of $12.10 billion, a P/E ratio of 163.62, a P/E/G ratio of 5.20 and a beta of 0.89. The stock’s 50 day simple moving average is $55.37 and its 200-day simple moving average is $51.66. DocuSign has a 1-year low of $38.11 and a 1-year high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. The business had revenue of $712.39 million for the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. As a group, research analysts expect that DocuSign will post 0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other DocuSign news, Director Peter Solvik sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the transaction, the director now directly owns 783 shares in the company, valued at $46,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Peter Solvik sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the sale, the director now owns 783 shares of the company’s stock, valued at $46,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,680 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total value of $470,553.60. Following the sale, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. Insiders have sold 54,871 shares of company stock worth $3,176,199 over the last ninety days. Corporate insiders own 17.80% of the company’s stock.

Institutional Trading of DocuSign

Large investors have recently modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of DocuSign by 440.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after acquiring an additional 220 shares during the period. Capital Analysts LLC increased its holdings in DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after buying an additional 469 shares during the last quarter. BluePath Capital Management LLC purchased a new position in DocuSign in the third quarter valued at $32,000. McGlone Suttner Wealth Management Inc. purchased a new position in DocuSign in the fourth quarter valued at $32,000. Finally, Virtus Fund Advisers LLC purchased a new position in DocuSign in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.